Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
bpoland58

7 Contributions
7 People Helped
a CC increased my limit by closing acct and opened new one. Good or bad? If bad how can I fix?
I received a limit increase from Web bank but instead of upping the limit they closed the account and started a new account with a new higher limit. Is this going to help or hurt. As I see it there will be an additional account but average age of accounts will be lower. If that is not a good thing can it be corrected?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
60 Contributions
76 People Helped
Most Helpful Response

bpoland58

Helpful to 2 out of 2 people

I dont think you can change it.  I have had a similar experience with a credit card.  When I started my credit repair process years ago, I had a sub-prime card from a place called Orchard Bank.  A new cc account from a company called Capitol One showed up on my report with the same limit, etc...  I did some digging and found out that they had bought that company.  So the acct was switched with no interaction or knowledge on my part.  To my credit report/history this was seemless, and the only net affect was that an additional account in good standing on my history, so it was actually all positive.  There was no age of acct hit from the new acct being generated.

Hope this turn out to be the same in your situation.

Let me know how it goes.

Good Luck

Rich

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.